Pros
You can wear multiple hats , whatever hat you are good at to contribute along with designated role. Good recognition for your work. I loved working with few product people who were experts, HR team members are really great. No point of yours goes unheard. I have trust in the product and the tech so would love to join again.
Cons
No structure, can become very chaotic with execution, so much that we keep spinning around the same topic for months across multiple people as there is no hierarchy, no supervisor, no accountability, just meetings, meeting notes on confluence, no actions. HR;s cant do anything here as there its a flat structure. People who arrange meetings, good at passing the ball, very close to executive get promoted